Intech Investment Management LLC Reduces Stake in ONEOK, Inc. (NYSE:OKE)

Intech Investment Management LLC lowered its holdings in ONEOK, Inc. (NYSE:OKE) by 51.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 73,989 shares of the utilities provider’s stock after selling 78,844 shares during the period. Intech Investment Management LLC’s holdings in ONEOK were worth $6,743,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Matrix Trust Co purchased a new stake in ONEOK in the 3rd quarter worth approximately $29,000. Quest Partners LLC bought a new position in shares of ONEOK in the 2nd quarter worth approximately $28,000. Ridgewood Investments LLC bought a new position in shares of ONEOK in the 2nd quarter worth approximately $31,000. Access Investment Management LLC bought a new position in shares of ONEOK in the 3rd quarter worth approximately $37,000. Finally, Values First Advisors Inc. bought a new position in shares of ONEOK in the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 3.1 %

OKE stock opened at $116.65 on Friday. ONEOK, Inc. has a 1-year low of $65.49 and a 1-year high of $117.24. The business has a fifty day moving average price of $98.36 and a 200-day moving average price of $88.59. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a market capitalization of $68.14 billion, a P/E ratio of 24.40, a P/E/G ratio of 5.64 and a beta of 1.66.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. Equities analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the subject of several research reports. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. UBS Group increased their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Bank of America initiated coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Barclays raised their price objective on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Finally, Scotiabank lifted their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.